Diversified Enterprises LLC Boosts Holdings in Apple Inc. $AAPL

Diversified Enterprises LLC raised its stake in Apple Inc. (NASDAQ:AAPL) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,542 shares of the iPhone maker’s stock after acquiring an additional 18,618 shares during the quarter. Apple makes up approximately 1.7% of Diversified Enterprises LLC’s investment portfolio, making the stock its 12th largest position. Diversified Enterprises LLC’s holdings in Apple were worth $27,877,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after buying an additional 5,005,297 shares in the last quarter. State Street Corp boosted its holdings in shares of Apple by 0.9% during the 2nd quarter. State Street Corp now owns 601,249,995 shares of the iPhone maker’s stock worth $123,358,461,000 after purchasing an additional 5,224,229 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 1.4% in the second quarter. Geode Capital Management LLC now owns 354,749,794 shares of the iPhone maker’s stock valued at $72,506,336,000 after purchasing an additional 4,942,638 shares in the last quarter. Norges Bank acquired a new position in Apple in the 2nd quarter valued at about $38,942,255,000. Finally, Northern Trust Corp raised its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 30,002 shares of Apple stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $255.35, for a total transaction of $7,661,010.70. Following the completion of the sale, the senior vice president owned 136,810 shares in the company, valued at approximately $34,934,433.50. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ben Borders sold 1,274 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $290.00, for a total transaction of $369,460.00. Following the transaction, the insider directly owned 38,713 shares in the company, valued at $11,226,770. The trade was a 3.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 97,759 shares of company stock valued at $24,964,305. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stephens set a $315.00 price target on shares of Apple in a research report on Monday, January 26th. UBS Group set a $296.00 price target on shares of Apple and gave the stock a “neutral” rating in a research note on Friday, May 1st. Maxim Group upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Friday, January 30th. Barclays reissued an “underweight” rating and set a $253.00 target price (up from $248.00) on shares of Apple in a research note on Friday, May 1st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $310.00 price target (up from $300.00) on shares of Apple in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $308.74.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $308.82 on Friday. The company has a 50-day simple moving average of $269.64 and a 200-day simple moving average of $268.63. Apple Inc. has a one year low of $193.46 and a one year high of $311.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $4.54 trillion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.66 and a beta of 1.06.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, April 30th. The iPhone maker reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. Apple had a net margin of 27.15% and a return on equity of 146.69%. The business had revenue of $111.18 billion during the quarter, compared to analysts’ expectations of $109.46 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business’s revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Apple Inc. will post 8.74 EPS for the current year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This is an increase from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. Apple’s dividend payout ratio (DPR) is currently 13.06%.

Key Headlines Impacting Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple continues to be viewed as one of the best long-term large-cap tech names, with reports highlighting strong iPhone demand, its massive installed base, and the potential for Services to drive the next leg of earnings growth. Apple Services story
• Positive Sentiment: Analysts remain constructive: Evercore ISI reiterated an Outperform rating and raised its price target, while other commentary says Apple can keep compounding earnings and free cash flow as it expands AI features and devices. Analyst commentary
• Positive Sentiment: Apple executives saying the company is still in the “early innings” of spatial computing is reinforcing the view that new product categories could support future growth beyond the iPhone. Spatial computing article
• Neutral Sentiment: Apple’s legal fight with Epic Games remains a drag on sentiment, as the company asked the U.S. Supreme Court to review a contempt order tied to App Store fees. Epic lawsuit article
• Negative Sentiment: Some analysts are becoming more cautious on valuation after Apple’s run to new highs, warning the stock may be due for profit-taking. KeyBanc caution article

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.